Maning Fail! Indosat-Tri Merger Postponed Again

Jakarta

Merger between Indosat Ooredoo and Hutchison 3 Indonesia (Tri) is again delayed. The two company shareholders agreed to extend the merger process until September 23, 2021.

Delay Indosat-Tri Indonesia merger this has happened twice. Previously, the two shareholders extended the negotiations which had ended on April 30, 2021, to June 30, 2021.

Then, the discussion on the merger seemed tough, so it was extended again until August 16, 2021. However, it seems that both parties have not found a point of agreement that will eventually extend it again.

“In accordance with today’s shareholder announcement, Ooredoo Group and CK Hutchison Holdings Limited agreed to extend the exclusivity period of the Memorandum of Understanding (MoU) which is not legally binding in connection with a possible transaction to merge Indosat and Tri Indonesia until September 23, 2021,” said SVP – Head of Corporate Communications Indosat Ooredoo, Steve Saerang, in a written statement, Monday (16/8/2021).

Furthermore, Steve said, Indosat and Tri Indonesia merger This is expected to accelerate the digital transformation process in Indonesia, by uniting the two telecommunication brands.

“To create a new, world-class digital telecommunications company. The combined company created will have the scale and financial capability to drive innovation and accelerate Indonesia’s transformation into a digital society,” said Steve.

Ooredoo and CK Hutchison Holdings Limited (CK Hutchison) signed an exclusive Memorandum of Understanding (MoU) for the potential merger of the telecommunications business between Indosat Ooredoo and Hutchison 3 Indonesia. The MoU was signed at the end of December 2020.

It is known that Ooredoo owns about 65% of Indosat’s shares. Meanwhile, in Indonesia, Hutchison has Tri, which is managed by PT Hutchison 3 Indonesia. The deal will involve a cash and stock offering.

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(eight / fay)

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